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Purdue University and Indianapolis-based venture studio High Alpha announced a joint partnership Thursday that will place students and startups under one roof and bolster the university’s presence in downtown Indianapolis.
High Alpha’s headquarters space at 830 Massachusetts Ave. in Bottleworks District will house executive education programs in the Mitch Daniels School of Business alongside programs at Purdue Innovates, an initiative supporting Purdue-connected inventors and entrepreneurs.
“We’ll literally be living in the best startup ecosystem in the state,” Purdue President Mung Chiang told IBJ. “Naturally, we’ll bring our inventors over there, and they will participate in the High Alpha programs. It’s just a very natural match.”
Purdue is expected to be housed on the third floor in High Alpha’s 41,000-square-foot office space. High Alpha is the primary tenant of a 55,000-square-foot building that opened in 2020 at the Bottleworks campus.
The move comes as Purdue and Indiana University formally separate their 53-year partnership in Indianapolis, retiring the IUPUI name and forming two independent urban operations.
The collaboration also builds on a promise by Purdue to expand enrollment by more than 1,000 students and vault the Mitch Daniels School of Business into top 10 national rankings. Purdue has about 5,000 undergraduate, graduate and professional students currently enrolled at IUPUI, compared to 26,000 Indiana University students.
“This opportunity for an additional location in the heart of Indianapolis allows Purdue to leverage the vast Boilermaker network and tap into a vibrant ecosystem of research, resources and expertise,” said Brooke Beier, senior vice president of Purdue Innovates, in written remarks.
Last week, trustees from both schools voted to approve the creation of Indiana University Indianapolis, the new name for IU’s existing campus in Indianapolis, and Purdue University in Indianapolis, which is expanding its footprint downtown and opening Indianapolis satellite locations.
Chiang has stressed that Purdue’s Indianapolis operations will not be a separate branch or campus. Instead, Purdue is branding its Indianapolis programs as fully integrated extensions of its flagship campus in West Lafayette.
High Alpha was founded in 2015 to cultivate software enterprise and business-to-business companies. It has co-founded more than 40 startups and provided financial backing for at least 80 founders since its inception.
“We are thrilled to expand our network of partnerships by welcoming Purdue University into the Bottleworks District,” co-founder Kristian Andersen said in written remarks. “Purdue is already a national leader in operating at the intersection of technology, education and entrepreneurship. We’re confident this partnership will create even more opportunity for Purdue’s students and alumni, High Alpha and the entire city of Indianapolis.”
As part of its split with IU, Purdue is taking on existing engineering, computer science and technology programs now at IUPUI and students will receive Purdue West Lafayette degrees.
Purdue also said last week it was planning a 28-acre footprint on the north side of the current IUPUI campus that will be in addition to the existing IUPUI Engineering & Technology buildings, which Purdue will continue to use. The addition could include five buildings.
Purdue also said last week it would develop three other locations in Indianapolis. The High Alpha location is the first of those announcements.
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Sounds like a great pairing.
Purdue and High Alpha.
Very good results should come of this.